DIRS.INFO The most relevant business & tech news

A street sign for Wall Street is seen in the financial district in New York, U.S., November 8, 2021. Comments from Philadelphia Fed President Patrick Harker and Cleveland Fed President Loretta Mester will also be on investor radar during the day as Fed officials will be entering a media blackout starting Saturday ahead of their meeting on Nov 1. The 10-year Treasury yield , which briefly crossed 5% on Thursday for the first time since July 2007, were last at 4.9392%. ET, Dow e-minis were down 78 points, or 0.23%, S&P 500 e-minis were down 13 points, or 0.3%, and Nasdaq 100 e-minis were down 61 points, or 0.41%. Shares of solar firms Enphase Energy (ENPH.O) and First Solar (FSLR.O) were also down 15.6% and 5.2%, respectively.

Persons: Brendan McDermid, Jerome Powell, Powell, Jay Powell, Michael Hewson, Lorie Logan, Patrick Harker, Loretta Mester, CME's, Shubham Batra, Shashwat Chauhan, Arun Koyyur, Vinay Dwivedi Organizations: Wall, REUTERS, Dow, Nasdaq, Treasury, Federal, Economic, of New, CMC, Fed Bank of Dallas, Market, BofA, Research, U.S, Philadelphia Fed, Cleveland Fed, Traders, American Express, Investors, Dow e, Enphase Energy, Thomson Locations: New York, U.S, of New York, East, Israel, Gaza, Bengaluru

☆ Exclusive: Combat veteran is likely replacement for China's missing defence minister
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +7 min

China's defence ministry and State Council information office did not respond to requests for comment. If his departure is confirmed, Li will be the second senior minister to lose his job in recent months. Qin Gang was removed as foreign minister in July, one month after he was last seen in public. U.S. defence officials have long wanted to reestablish routine communications with counterparts directly involved in command decisions. Qin was made foreign minister in Dec. 2022 and Li became defence minister in March.

Persons: Carlos Garcia Rawlins, Liu Zhenli, Liu, Li Shangfu, Li, Qin Gang, Qin, Nancy Pelosi, Xi Jinping, Xi, James Char, Lloyd Austin, Alexander Neill, Willy Lam, Chang Dingqiu, Katerina Ang, Daniel Flynn Organizations: Political Consultative, REUTERS, Rights, Defence, Reuters, Russia, Joint Staff Department of, Central Military Commission, State, U.S . Department of Defense, ., CMC, Xiangshan, National, Committee, Communist Party's, U.S, Pentagon, People's, Army, Rajaratnam, of International Studies, Washington, PUBLIC, National Defence, Joint Staff Department, Pacific Forum, Jamestown Foundation, Xinhua, Air Force, Thomson Locations: Beijing, China, Rights BEIJING, United States, U.S, Taipei, ., Singapore, Honolulu, Vietnam

☆ Middle East violence rattles markets, oil jumps
▼ + stars: | 2023-10-09 | by ( Reuters Staff | ) www.reuters.com time to read: +5 min

MARKET REACTION:- Oil prices surged, with Brent crude trading at $87.25 a barrel - up over 3% on the day. COMMENTS:MOHIT KUMAR, CHIEF EUROPE ECONOMIST, JEFFERIES, LONDON:“The coming days are likely to be driven by geopolitical risks, rather than fundamentals. “Second, OPEC countries do have spare capacity that they restrict willingly to maintain oil price at above $80 (per barrel), but they don’t necessarily think of tripling oil prices – which would only accelerate the energy transition. “This being said, potential retaliation against Tehran is a serious upside risk for oil prices. We will keep an eye on developments, but don’t speculate on a full-blast rise in oil prices for now.”

Persons: Mohammed Salem, Israel’s shekel, MOHIT KUMAR, JEFFERIES, ”, ” CHRIS BEAUCHAMP, Brent, WTI, CAROL KONG, JPY, ” MICHAEL HEWSON, ALVIN TAN, Blinken, “, ” IPEK OZKARDESKAYA, Israel Organizations: Oil, REUTERS, Brent, U.S, Treasury, British Airways, LONDON, Russo, COMMONWEALTH BANK OF, CMC, U.S ., OF, OF ASIA FX, RBS, SWISSQUOTE BANK Locations: Israel, Gaza, Egypt, Yom, EUROPE, Iran, Ukrainian, SYDNEY, Asia, Japan, Straits, Hormuz, OF ASIA, ” “, GENEVA, OPEC, U.S, Tehran

☆ After buying an oversold market last week, here are 3 things to watch next week
▼ + stars: | 2023-10-07 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Even with a modest bounce Friday, U.S. crude prices fell nearly 9% this week — their worst weekly performance since March. US10Y YTD mountain 10-year Treasury yield year to date performance Here are three major developments to watch in the week ahead. September headline PPI is expected to rise 0.3% month over month and 1.6% year over year. As for CPI, economists are looking for a September headline reading of up 0.3% month over month and 3.6% year over year. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Dow, —, We'll, Wells Fargo, Banks, we'll, Jamie Dimon, Morgan Stanley, Wells, JPMorgan Chase, Jim Cramer's, Jim Cramer, Jim, Daniel Acker Organizations: Labor Department, Nasdaq, Federal Reserve, Companies, CPI, JPMorgan Chase, PepsiCo, Air, DAL, Walgreens Boots Alliance, Commercial Metals, Infosys Tech, SMART, JPMorgan, Citigroup, PNC Financial, PNC, Jim Cramer's Charitable, CNBC, Bloomberg, Getty Locations: U.S, Wells Fargo, BlackRock

Oil rigs are seen at Vaca Muerta shale oil and gas drilling, in the Patagonian province of Neuquen, Argentina January 21, 2019. "The worst week for crude since March is starting to attract buyers given the oil market will still remain tight over the short-term," Moya said. "We think that once markets start paying attention to falling global oil stockpiles, Brent oil futures will likely creep back up above $US90/bbl," the Commonwealth Bank of Australia said in a note on Friday. U.S. government data this week showed a sharp decline in U.S. gasoline demand, with economic data showing the U.S. services sector had slowed. "The non-farm payroll data tonight, the US CPI, and China's economic data next week will be key to steering oil's movements.

Persons: Agustin Marcarian, Brent, Bond, Edward Moya, Moya, Tina Teng, Sudarshan Varadhan, Sonali Paul, Stephen Coates Organizations: REUTERS, Rights, U.S, West Texas, JPMorgan, National Australia Bank, Commonwealth Bank of Australia, CPI, CMC Markets, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, Rights SINGAPORE, U.S, United States

Li’s disappearance follows a series of unexplained personnel shakeups that have roiled the upper ranks of China’s ruling Communist Party this summer, including the ousting in July of former Foreign Minister Qin Gang. The Financial Times reported that the US government believes the defense minister has been placed under investigation, citing American officials. Li, who was sanctioned by the US in 2018 over China’s purchase of Russian weapons, is still listed as China’s defense minister, one of its five state councilors, and a member of the party’s powerful Central Military Commission (CMC). Beijing has never issued an explanation for Qin’s removal nor said that the former minister was under investigation. China’s State Council Information Office has not replied to queries from CNN on the matter.

Persons: Li Shangfu’s, Wu Qian, “, China’s, Qin, Li, Wu, Xi Jinping, they’ve, Li Shangfu, Antony Blinken Organizations: Beijing CNN, Defense Ministry, Communist Party, Foreign, Qin Gang, People’s Liberation Army Rocket Force, CNN, Reuters, Communist, Street Journal, The Financial Times, Central Military Commission, Development Department, State, Wall Street Journal, Financial Times Locations: China, Beijing, Washington, United States

☆ Extreme fear is haunting stock markets again. Here's why investors are running scared
▼ + stars: | 2023-09-28 | by ( Anna Cooban | ) edition.cnn.com time to read: +5 min

The S&P 500 index (SPX) has risen 11% since the start of the year, the tech-heavy Nasdaq (NDX) 33%, and the Stoxx Europe 600 (STOXX) 5%. The Stoxx Europe 600 has fallen 3.3%. ‘Higher for longer’ interest ratesThe world’s major central banks have spent the past two years hiking borrowing costs in a bid to control runaway inflation. High interest rates typically put pressure on stocks, since investors tend to favor bonds when they offer comparable returns as they are safer. An ailing ChinaA slew of disappointing economic data out of China has also put pressure on stocks.

Persons: Michael Hewson, —, Cushing, Strategic Petroleum Reserve —, Goldman Sachs, Giovanni Staunovo, Brent, stoking Organizations: London CNN —, CMC, CNN, Nasdaq, Federal Reserve, Brent, Strategic Petroleum Reserve, UBS, country’s National Bureau of Statistics, Evergrande Group Locations: United States, Europe, Saudi Arabia, Russia, OPEC, Cushing , Oklahoma, Ukraine, Saudi, China, Hong Kong

☆ Oil prices climb as markets focus on supply tightness
▼ + stars: | 2023-09-27 | by ( Emily Chow | ) www.reuters.com time to read: +3 min

An aerial view shows oil tanks of Transneft oil pipeline operator at the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia June 13, 2022. REUTERS/Tatiana Meel/File Photo Acquire Licensing RightsSINGAPORE, Sept 27 (Reuters) - Oil prices rose nearly $1 on Wednesday as markets focused on supply tightness heading into winter and a "soft landing" for the U.S. economy. Brent crude futures rose 86 cents, or 0.9%, to $94.82 a barrel by 0340 GMT, while U.S. West Texas Intermediate crude futures climbed 86 cents, or 0.9%, to $91.25. "Oil prices are overall relatively strong amid the current tightening of supply," said CMC Markets analyst Leon Li, however adding that price support from Russia and Saudi Arabia supply cuts may be limited through the year-end. "(Economic) Data from countries in Europe and the United States have recently weakened ... Oil prices in October may show a volatile trend as a whole.

Persons: Tatiana Meel, Cushing, Leon Li, Neel Kashkari, Arathy Somasekhar, Emily Chow, Sonali Paul 私 Organizations: Rights, Brent, U.S, West Texas, Organization of, Petroleum, ANZ Research, Russian Railways, Minneapolis Federal Reserve Bank, of England Locations: Nakhodka, Russia, Rights SINGAPORE, U.S, Oklahoma, Cushing, Saudi Arabia, Europe, United States, Minneapolis, Houston, Singapore

☆ Dollar rides Treasury yields higher, yen battered
▼ + stars: | 2023-09-27 | by ( ) www.cnbc.com time to read: +3 min

The dollar traded near a 10-month high against its major peers on Wednesday as Treasury yields stayed elevated on the prospect of higher-for-longer U.S. rates, while the yen stumbled towards a closely-watched intervention zone. "The U.S. dollar is stickier to the upside than the downside," said Tina Teng, market analyst at CMC Markets. The elevated U.S. yields have spelt trouble for the yen , which edged marginally higher to 149.01 per dollar, after having slipped to a 11-month low of 149.185 on Tuesday. The dollar/yen pair tends to be extremely sensitive to changes in long-term U.S. Treasury yields, particularly on the 10-year front. "Even if there were intervention, it won't drive dollar/yen down permanently unless bond yields start to retreat in earnest too."

Persons: Sterling, Tina Teng, Alvin Tan Organizations: National Printing Bureau, Treasury, U.S, CMC Markets, Fed, Asia FX, RBC Capital Markets, New Zealand Locations: National Printing Bureau Tokyo, Tokyo, Japan, Asia, Tuesday's

Pump jacks operate at sunset in an oil field in Midland, Texas U.S. August 22, 2018. REUTERS/Nick Oxford/File Photo Acquire Licensing RightsTOKYO/BEIJING, Sept 26 (Reuters) - Oil prices fell on Tuesday amid concerns that fuel demand will be crimped by major central banks holding interest rates higher for longer, even with supply expected to be tight. Higher interest rates slow economic growth, which curbs oil demand. With China's Golden Week holiday starting from Sunday, oil prices could gain support from a pick-up in travel and resulting oil product demand from the world's second biggest oil consumer. Oil prices have risen by around 30% since mid-year driven mostly by tighter supply, wiping off 0.5 percentage points from the global GDP growth in the second half of this year, according to JP Morgan.

Persons: Nick Oxford, Tina Teng, Moody's, Fitch, CMC's Teng, JP Morgan, Baden Moore, Katya Golubkova, Andrew Hayley, Sonali Paul Organizations: Midland , Texas U.S, REUTERS, Rights, Brent, U.S, West Texas, CMC Markets, U.S . Federal Reserve, European Central Bank, bbl, National Australia Bank, Thomson Locations: Midland , Texas, Rights TOKYO, BEIJING, Auckland, U.S, China, Russia, Saudi Arabia, Moscow, Tokyo, Beijing

TOKYO (AP) — Asian shares mostly sank Tuesday over worries about a possible U.S. government shutdown and the troubled Chinese economy. Political Cartoons View All 1179 ImagesRealization is sinking in that the Federal Reserve will likely keep interest rates high well into next year. Higher yields are at the head of a long line of concerns weighing on Wall Street. On Wall Street, Amazon rose 1.7% and was the strongest single force pushing up on the S&P 500. Also on the losing end of Wall Street were stocks of travel-related companies, which slumped under the weight of worries about higher fuel costs.

Persons: Australia's, Korea's Kospi, Evergrande, ”, Tina Teng, That’s, ” Goldman Sachs, David Kostin, what’s, haven’t, Chris Larkin, Morgan Stanley, Brent, Stan Choe Organizations: TOKYO, CMC, Dow Jones, Nasdaq, Federal Reserve, Big Tech, Netflix, Walt Disney Co, Warner Brothers Discovery, Southwest Airlines, Norwegian Cruise, Exxon Mobil, ConocoPhillips, U.S, AP Locations: Hong, Shanghai, Canada, U.S, Anthropic, Norwegian, New York

☆ Turbulence in China’s top ranks raises questions about Xi Jinping’s rule
▼ + stars: | 2023-09-19 | by ( Nectar Gan | ) edition.cnn.com time to read: +10 min

Defense Minister Li Shangfu has not been seen in public for three weeks, sparking speculation he is under investigation. Both Li and Qin serve among China’s five state councillors, a senior position in the cabinet that outranks a regular minister. Li also sits on the Central Military Commission, a powerful body headed by Xi that commands the armed forces. China's Defence Minister Li Shangfu gives a speech during the Moscow Conference on International Security on August 15. Last week, as speculation mounted over the whereabouts of the defense minister, Xi called for unity and stability within the military during an inspection in China’s northeast.

Persons: China’s, Li Shangfu, Weeks, Qin Gang, Xi, Li, Qin, outranks, “ What’s, ”, Drew Thompson, Xi Jinping, James Char, Lloyd Austin, Alexander Nemenov, Xi’s, Deng Yuwen, ” Rahm Emanuel, Agatha Christie’s, “, –, Craig Singleton, General Zhang Youxia, Zhang, He’s, Thompson, they’re, ” Thompson, Mao Zedong, Char, …, ” Char, Jinping Organizations: Hong Kong CNN —, Defense, Foreign, Central Military Commission, People’s Liberation Army Rocket Force, Wall Street Journal, Communist Party, National University of Singapore, Rajaratnam, of International Studies, Belarus ’, US, Singapore’s Navy, China's, Conference, International Security, Getty, Twitter, Foundation for Defense of Democracies, Washington DC, Development Department, Rocket Force, Equipment Development Department Locations: China, Hong Kong, United States, Washington, Beijing, Singapore, Moscow, Belarus, Minsk, AFP, Japan, Soviet, Sichuan, “

SINGAPORE, Sept 18 (Reuters) - Oil prices rose for a third straight session on Monday, buoyed by forecasts of a widening supply deficit in the fourth quarter after Saudi Arabia and Russia extended cuts and by optimism about a recovery in demand in China. Traders will be watching decisions and commentary by central banks, including the U.S. Federal Reserve, this week on interest rate policies, as well as key economic data out of China. Saudi Arabia and Russia extended supply cuts to the end of the year as part of the OPEC+ group's plans. Global oil demand growth is on track to hit 2.1 million bpd, ANZ said, in line with forecasts from the International Energy Agency and the Organization of the Petroleum Exporting Countries (OPEC). Reporting by Florence Tan and Sudarshan Varadhan; Editing by Stephen Coates and Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

Persons: Tina Teng, Brent, WTI, Edward Moya, Florence Tan, Sudarshan, Stephen Coates, Sonali Paul Organizations: Brent, West Texas, CMC, Traders, U.S . Federal Reserve, Saudi, ANZ, OANDA, International Energy Agency, Organization of, Petroleum, Thomson Locations: SINGAPORE, Saudi Arabia, Russia, China, OPEC, Ukraine, Russian

SINGAPORE, Sept 18 (Reuters) - Oil prices rose for a third straight session on Monday, buoyed by forecasts of a widening supply deficit in the fourth quarter after Saudi Arabia and Russia extended cuts and on optimism of a demand recovery in China, the world's top crude importer. Brent crude futures rose 39 cents, or 0.4%, to $94.32 a barrel by 0253 GMT while U.S. West Texas Intermediate crude futures were at $91.30 a barrel, up 53 cents, or 0.6%. Traders will be watching decisions and commentary by central banks, including the U.S. Federal Reserve, this week on interest rate policies, and key economic data out of China. Global oil demand growth is on track to hit 2.1 million bpd, ANZ said, in line with forecasts from the International Energy Agency and the Organization of the Petroleum Exporting Countries (OPEC). Reporting by Florence Tan and Sudarshan Varadhan; Editing by Stephen Coates and Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

☆ Explainer-China's Military Hierarchy Under Spotlight After Defence Minister Disappears
▼ + stars: | 2023-09-18 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +5 min

By Greg Torode and Yew Lun TianHONG KONG (Reuters) - The disappearance of Chinese Defence Minister Li Shangfu highlights the opaque and complex nature of the People's Liberation Army (PLA), diplomats and analysts say. In the Chinese system, the Minister of National Defence is seen as significantly less powerful than the U.S. defence secretary and many international equivalents. HOW DOES THE CHINESE MILITARY SYSTEM OPERATE? When the forum was last held in-person in 2019, more than 530 defence and military officials and scholars attended, including defence ministers from 23 countries. The Chinese defence minister would typically give the keynote speech at the forum and meet with delegations.

Persons: Greg Torode, Li Shangfu, Li, Xi Jinping, technocrat, Xi, Lloyd Austin, Jake Sullivan, Wang Yi, Zhang Youxia, Tian, Gerry Doyle Organizations: Reuters, Defence, People's Liberation Army, PLA, of National Defence, Central Military Commission, Communist Party, Strategic, Force, . Defence, White House, Foreign, Austin, CMC, Diplomats, China Locations: HONG KONG, U.S, ., Singapore, Malta, China

HONG KONG, Sept 18 (Reuters) - The disappearance of Chinese Defence Minister Li Shangfu highlights the opaque and complex nature of the People's Liberation Army (PLA), diplomats and analysts say. In the Chinese system, the Minister of National Defence is seen as significantly less powerful than the U.S. defence secretary and many international equivalents. HOW DOES THE CHINESE MILITARY SYSTEM OPERATE? When the forum was last held in-person in 2019, more than 530 defence and military officials and scholars attended, including defence ministers from 23 countries. The Chinese defence minister would typically give the keynote speech at the forum and meet with delegations.

Persons: Li Shangfu, Li, Xi Jinping, technocrat, Xi, Lloyd Austin, Jake Sullivan, Wang Yi, Zhang Youxia, Greg Torode, Tian, Gerry Doyle Organizations: Defence, People's Liberation Army, PLA, Reuters, of National Defence, Central Military Commission, Communist Party, Strategic, Force, . Defence, White House, Foreign, Austin, CMC, Diplomats, China, Thomson Locations: HONG KONG, U.S, ., Singapore, Malta, China

☆ Oil inches higher on supply concerns, China demand recovery
▼ + stars: | 2023-09-18 | by ( ) www.cnbc.com time to read: +2 min

Two large oil tankers unload at the 300,000-ton crude oil terminal in Yantai Port, Shandong Province, China, July 9, 2023. Oil prices inched higher on Monday, buoyed by forecasts of a widening supply deficit in the fourth quarter after Saudi Arabia and Russia extended cuts and on optimism of a demand recovery in China, the world's top crude importer. Traders will be watching decisions by central banks, including the Federal Reserve, this week on interest rate policies. "The Fed is expected to pause rate hikes this time but is likely to stay hawkish," CMC's Teng said. A pause in U.S. rate hikes could weaken the greenback which makes dollar-denominated commodities such as oil more affordable for holders of other currencies.

Persons: Tina Teng, WTI, CMC's Teng Organizations: Brent, West Texas, CMC, ANZ, International Energy Agency, Organization of, Petroleum, Traders, Federal Reserve Locations: Yantai Port, Shandong Province, China, Saudi Arabia, Russia, OPEC, Ukraine

☆ Oil prices rise to 10 month-high on China reserve ratio cut
▼ + stars: | 2023-09-15 | by ( ) www.cnbc.com time to read: +1 min

Oil prices rose to their highest level in 10 months on Friday, after China cut banks' cash reserve requirements to boost its economic recovery, and on expectations that major global interest rate hike cycles were nearing their end. Higher interest rates increase borrowing costs for businesses and consumers, which could slow economic growth and reduce oil demand. No one is doubting the OPEC+ (oil-producing nations) decision at the end of last month will keep the oil market very tight in the fourth quarter," said analyst Edward Moya at OANDA. The International Energy Agency said this week it expects Saudi Arabia's and Russia's extended oil output cuts to result in a market deficit through the fourth quarter. Prices briefly pulled back on a bearish U.S. inventories report, but soon resumed their ascent as supply worries prevailed.

Persons: Brent, Tina Teng, Edward Moya Organizations: U.S . West Texas, CMC, International Energy Agency, Saudi Locations: China, U.S, OANDA

☆ Li Shangfu: Speculation grows over whereabouts of China's defense minister
▼ + stars: | 2023-09-15 | by ( Nectar Gan | ) edition.cnn.com time to read: +5 min

Hong Kong CNN —China’s Foreign Ministry on Friday skirted questions on the whereabouts of the country’s defense minister, amid mounting speculation the recently promoted general has been placed under investigation. Qin, who was only foreign minister for seven months, has retained the position of state councillor – a senior role in China’s cabinet which Li also holds. On Chinese government and military websites, Li is still listed as the defense minister, state councillor and a member of the party’s powerful Central Military Commission (CMC). “The foreign minister and the defense minister are both externally facing interlocutors with the international community. Two weeks away from the public view is not unprecedented for China’s defense minister, who typically has less frequent public engagements than the foreign minister.

Persons: Hong Kong CNN —, Li Shangfu, China’s, Li, Mao Ning, “ I’m, Qin Gang, Qin, –, Rahm Emanuel, Li hadn’t, Emanuel, Xi’s, Agatha Christie’s, Li Shangfu hasn’t, ”, Xi Jinping, ” Drew Thompson, Lee, Sergey Shoigu, Alexander Lukashenko Organizations: Hong Kong CNN, Hong Kong CNN — China’s, Communist Party, Financial Times, Street, Foreign Ministry, Central Military Commission, People’s Liberation Army, Force, CNN, Foreign, Rocket Force, Defense, Lee Kuan Yew, of Public, National University of Singapore, Development Department, Equipment Development Department, Security Forum, ”, Reuters, ” Reuters, Border Defense Friendship Exchange Locations: Hong Kong, Beijing, China, United States, Africa, Russia, Belarus, Moscow, Minsk, Hanoi

TOKYO (AP) — Asian shares were mostly higher Friday after China reported that its slowing economy showed signs of stabilizing in August. That is seen as a sign the economy may be breaking out of its post-pandemic malaise. “The Arm IPO optimism and China’s further stimulus measures boosted sentiment across Asian stock markets,” Tina Teng, a markets analyst at CMC Markets APAC & Canada, said in a commentary. A third report said prices getting paid at the wholesale level rose more last month than economists expected. Ignoring those and other particularly volatile prices, underlying inflation trends in Thursday’s report were closer to economists’ expectations.

Persons: Hang Seng, “, Australia's, Tina Teng, they’re, Mike Loewengart, ” Organizations: TOKYO, China, People's Bank of, Nikkei, SoftBank Group Corp, Arm Holdings, Nasdaq, CMC, Dow Jones Industrial, Treasury, Federal Reserve, Fed, CME Group, Morgan Stanley Global Investment, Brent, U.S . Locations: Shanghai, People's Bank of China, Tokyo, Canada, U.S

☆ Dollar steady as U.S. inflation data awaited, yen retraces gains
▼ + stars: | 2023-09-13 | by ( ) www.cnbc.com time to read: +3 min

More broadly, the dollar held firm, though moves were subdued as traders awaited a closely watched U.S. inflation reading due later on Wednesday. Analysts attributed the slide to an unwinding of long dollar positions after a recent run of resilient U.S. economic data. Wednesday's U.S. consumer price index, or CPI, data for August comes just a week before Federal Reserve officials gather to decide on interest rate policy. "In recent months, European inflation, core inflation in particular, has fallen more slowly than expected. "The high inflation rate warrants another rate hike, but the economic indicators ... signal that a recession is imminent."

Persons: Kazuo Ueda, Alvin Tan, Ueda, Hiroshige Seko, Sterling, CME's, Tina Teng Organizations: Bank of Japan, Asia FX, RBC Capital Markets, Federal Reserve, U.S, Fed, CMC Markets, European Central Bank, Reuters, ECB, Rabobank Locations: U.S, Asia

☆ Dollar steady ahead of key US inflation data, yen retraces gains
▼ + stars: | 2023-09-13 | by ( Brigid Riley | ) www.reuters.com time to read: +3 min

In the broader currency market, the dollar stood firm, though moves were subdued as traders stayed on guard ahead of the closely-watched U.S. inflation reading out later on Wednesday. Wednesday's U.S. consumer price index (CPI) data for August comes just a week before Federal Reserve officials gather to decide on interest rate policy. While the central bank is largely expected to keep rates on hold at next week's meeting, according to CME's FedWatch Tool, the Fed's next move in November remains more uncertain. "In recent months, European inflation, core inflation in particular, has fallen more slowly than expected. "The high inflation rate warrants another rate hike, but the economic indicators ... signal that a recession is imminent."

Persons: Dado Ruvic, Kazuo Ueda, Alvin Tan, Ueda, Hiroshige Seko, Sterling, CME's, Tina Teng, Brigid Riley, Shri Navaratnam Organizations: REUTERS, Rights, Bank of Japan, Asia FX, RBC Capital Markets, Federal Reserve, U.S, Wednesday's, Fed, CMC Markets, European Central Bank, Reuters, Rabobank, Thomson Locations: U.S, Asia, Wednesday's U.S

November Brent crude futures rose 28 cents to $90.92 a barrel at 0300 GMT, while U.S. West Texas Intermediate crude futures for October edged 35 cents higher to $87.64. The U.S. Federal Reserve is widely expected to leave interest interest rates unchanged at a policy meeting next week, though views are split over whether the Fed will raise rates or pause again in November. The European Commission on Monday forecast the euro zone to grow more slowly than previously expected in 2023 and 2024. The IEA last month lowered its 2024 forecast for oil demand growth to 1 million bpd, citing lackluster macroeconomic conditions. OPEC's August report, meanwhile, kept its 2.25 million bpd demand growth forecast for 2024 unchanged.

Persons: Nathan Frandino, Brent, Tina Teng, Teng, OPEC's, Jeslyn Lerh, Stephanie Kelly, Jamie Freed Organizations: Phillips, American West, REUTERS, bbl, Brent, U.S, West Texas, Traders, CMC, U.S . Federal Reserve, European Central Bank, European, Investors, International Energy Agency, Organization of, Petroleum, IEA, Thomson Locations: Rodeo , California, American, U.S, SINGAPORE, Europe, Saudi Arabia, Russia, China, OPEC, Singapore, New York

☆ Stocks subdued after bruising week, dollar basks and yuan wilts
▼ + stars: | 2023-09-08 | by ( Huw Jones | ) www.reuters.com time to read: +4 min

U.S. stock index futures , , were little changed. The dollar was set to clock up its best winning streak since 2014, bolstered by a resilient run of U.S. economic data. In contrast, the yuan fell to its weakest level since 2007 on worries about China's slowing economy. "Everything is geared towards the next couple of weeks, with European Central Bank, Federal Reserve and Bank of England meeting. Stocks sought to stabilise after a week of easing, with the MSCI All Country stock index (.MIWD00000PUS) slightly weaker at 676.83 points, and down about 1.5% for the week so far, though still up nearly 12% for the year.

Persons: Toby Melville, Mike Hewson, Stocks, Patrick Spencer, Spencer, YUAN, Masato Kanda, Hirokazu Matsuno, Brent, Heekyong Yang, Shri Navaratnam, Tomasz Janowski, David Evans Organizations: London Stock Exchange Group, City of, REUTERS, Stocks, Apple, Investors, European Central Bank, Federal Reserve, Bank of England, CMC, U.S, Consumer, Baird, ANZ Bank, Treasury, Thomson Locations: City, City of London, Britain, China, United States, Europe, U.S, Seoul

☆ Brent falls below $90/bbl, pausing rally, on weaker demand outlook
▼ + stars: | 2023-09-07 | by ( Erwin Seba | ) www.reuters.com time to read: +3 min

Brent crude futures settled 68 cents, or 0.8%, lower at $89.92 a barrel, after trading between $89.46 and $90.89. U.S. West Texas Intermediate crude (WTI) futures finished down 67 cents, or 0.8%, at $86.67 a barrel, after trading between $86.39 and $87.74. Thursday's fall came after nine straight sessions of gains in WTI and seven straight gains in Brent. But crude imports surged 30.9%. "The wind has been taken out of the bulls' sail overnight by rising Chinese product exports last month, albeit crude oil imports rose," PVM Oil analyst Tamas Varga said.

Persons: Agustin Marcarian, Thursday's, Prices, Dennis Kissler, John Kilduff, Tamas Varga, Leon Li, Erwin Seba, Arathy Somasekhar, Ahmad Ghaddar, Trixie Yap, Marguerita Choy, Frances Kerry, Nick Macfie Organizations: REUTERS, HOUSTON, Brent, . West Texas, U.S, BOK, Again, Markets, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, Iran, Venezuela, WTI, Brent, Saudi Arabia, Russia, China, Saudi, U.S, Shanghai, Houston, London, Singapore

Search resuls for: "CMC"

25 mentions found